Competition, Contractibility, and the Market for Donors to Nonprofits

This article investigates theoretically and empirically theeffects of competition for donors on the behavior of nonprofitorganizations. Theoretically, we consider a situation in whichnonprofit organizations use donations to produce some commodity,but the use of donations is only partially contractible. Themain results of the model indicate that an increase in competition(i) decreases the fraction of donations allocated to perquisiteconsumption and (ii) increases the fraction of donations allocatedto promotional expenditures. Moreover, the effects of competitionare magnified by the ability to contract on the use of donations.These hypotheses are tested with data on the expenditures ofnonprofit organizations in a number of subsectors where competitionis primarily local. We use across–metropolitan statisticalareas' variation to measure differences in competition and proxycontractibility by the importance of tangible assets, whichare more easily observed by donors. The estimated effects ofcompetition and contractibility are consistent with our model.     

Current state of the electrification of Russia

The current progress of electrification in Russia is clearly insufficient compared with G8 countries. At the same time, economy sectors have a high potential for energy saving. The electricity consumption of households depends on their cash income and the growth rate of electricity tariffs.     

An Australian Response to Recent Developments in the Market for Audit Services

Where the quality (both competence and independence) of an audit is tested, often in the circumstance of a corporate failure, auditors frequently have good defences as to their competency but rarely do they have equally convincing defences for the objectivity of their decisionmaking or the independence of their audit. This paper recommends that large audit firms establish an independence board with the authority to define, review and decide upon all threats and potential threats to independence. It would also have responsibility for quality-control and educational programs in respect of audit firm's independence decision-making.     

Benefits and barriers of telework: perception differences of human resources managers according to company's operations strategy

Telework as an integration of Information and Telecommunication Technologies with Human Resources management, means a new job organisation paradigm for companies working in the New Economy. However there are very few empirical studies that have analysed the perception differences of telework benefits and barriers in industrial and service companies. This paper contributes with empirical data to the relationship between the use of telework techniques and the implementation of this new work organisation with the company's operations strategy. The paper uses data from Spanish companies to test the relationship between innovation, employee training, and other production strategy performance parameters with the feasibility of telework adoption.     

The colors of investors’ money: The role of institutional investors around the world

We study the role of institutional investors around the world using a comprehensive data set of equity holdings from 27 countries. We find that all institutional investors have a strong preference for the stock of large firms and firms with good governance, while foreign institutions tend to overweight firms that are cross-listed in the U.S. and members of the Morgan Stanley Capital International World Index. Firms with higher ownership by foreign and independent institutions have higher firm valuations, better operating performance, and lower capital expenditures. Our results indicate that foreign and independent institutions, with potentially fewer business ties to firms, are involved in monitoring corporations worldwide.     

The economic performance of the Russian economy in 2006 and a forecast for 2008–2010

This article examines the economic outcome of 2006 and builds a forecast for 2007–2010. The medium-term development risks of the Russian economy are analyzed.     

Use of electrochemical oxidation process as post-treatment for the effluents of a UASB reactor treating cellulose pulp mill wastewater.

The main purpose of this study was to evaluate the performance of the electrochemical oxidation process as a post-treatment for the effluents of a bench-scale UASB reactor treating simulated wastewater from an unbleached pulp plant. The oxidation process was performed using a single compartment cell with two plates as electrodes. The anode was made of Ti/Ru0.3Ti0.7O2 and the cathode of stainless steel. The following variables were evaluated: current density (75, 150 and 225 mA cm(-2)) and recirculation flow rate in the electrochemical cell (0.22, 0.45 and 0.90 L h(-1)). The increase in current density from 75 to 225 mA cm(-2) did not increased the color removal efficiency for the tested flow rates, 0.22, 0.45 and 0.90 L h(-1), however the energy consumption increased significantly. The results indicated the technical feasibility of the electrochemical treatment as post-treatment for UASB reactors treating wastewaters from pulp and paper plants.     

A case study of regional catchment water quality modelling to identify pollution control requirements.

There are four ecologically important river catchments that contain candidate Special Areas of Conservation (cSACs) under the Habitats Directive in the Lake District National Park located in the North of England. These are the rivers Ehen, Kent, Derwent and Eden. For each cSAC, there are defined ecological criteria that include water quality targets to protect the designated species. Stretches of the riverine cSACs in each catchment are failing to meet these and other water quality targets. The Environment Agency commissioned a study of each catchment to provide the underpinning scientific knowledge to allow it to deliver its statutory obligations under the Habitats Directive. SIMCAT river water quality models were produced and used to predict the water quality impacts resulting from a number of water quality planning scenarios aimed at achieving full compliance with the Habitats Directive and other national and EEC water quality targets. The results indicated that further controls on effluent discharges will allow the majority of targets to be met but other sources of pollution will also need to be controlled. The outcome of the study also recognised that water quality improvements alone will not necessarily produce the required improvement to the ecological interest features in each cSAC.     

Connecting the second exhaust-heat boiler to the operating first one under the conditions of flow circuits of combined-cycle plants with two gas-turbine units and one steam turbine

Problems arising with connecting the second exhaust-heat boiler to the first exhaust-heat boiler under load in the case of flow circuits of combined-cycle plants of type PGU-450 are considered. Similar problems exist for two-boiler single-turbine units of type PGU-325 and for two-boiler single-turbine units of traditional steampower plants with an output of 200–300 MW upon connection of the second furnace of a two-furnace boiler to the operating first furnace. Analysis of the temperature-induced stressed state and of the cyclic strength of thick-walled elements of the steam-water conduit of PGU-450 and of two-furnace boilers of two-boiler single-turbine units with an output of 200–300 MW (the check valve, the inlet header of the water economizer) is used for determining the steam temperature differences in the high-pressure conduits to the steam turbine and the order of connection of the second exhaust-heat boiler to the operating fist one. Modes of enabling a two-boiler single-turbine unit of a combined-cycle plant, which are most “rigid” from the standpoint of thermal strength, are determined. __________ Translated from élektricheskie Stantsii, No. 2, February 2006, pp. 11–17.